Impax Asset Management Group plc Grows Stake in Neurocrine Biosciences, Inc. $NBIX

Impax Asset Management Group plc raised its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 15.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 115,000 shares of the company’s stock after acquiring an additional 15,000 shares during the quarter. Impax Asset Management Group plc’s holdings in Neurocrine Biosciences were worth $14,454,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of NBIX. Dodge & Cox increased its position in shares of Neurocrine Biosciences by 83.5% in the first quarter. Dodge & Cox now owns 5,534,624 shares of the company’s stock worth $612,129,000 after purchasing an additional 2,518,199 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Neurocrine Biosciences by 44.0% in the 1st quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company’s stock worth $232,037,000 after acquiring an additional 640,556 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Neurocrine Biosciences by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,539,601 shares of the company’s stock worth $170,281,000 after acquiring an additional 49,088 shares during the last quarter. Braidwell LP grew its holdings in shares of Neurocrine Biosciences by 32.2% during the 1st quarter. Braidwell LP now owns 1,191,925 shares of the company’s stock valued at $131,827,000 after purchasing an additional 290,135 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Neurocrine Biosciences by 8.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,159,367 shares of the company’s stock valued at $128,226,000 after purchasing an additional 89,271 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

NBIX has been the subject of several analyst reports. JPMorgan Chase & Co. increased their target price on Neurocrine Biosciences from $171.00 to $179.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Guggenheim upped their price target on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, August 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Wednesday, October 8th. Morgan Stanley reduced their price target on Neurocrine Biosciences from $178.00 to $173.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Needham & Company LLC boosted their target price on Neurocrine Biosciences from $170.00 to $184.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $170.53.

Insider Activity

In other news, CEO Kyle Gano sold 300 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $141.97, for a total transaction of $42,591.00. Following the sale, the chief executive officer owned 140,407 shares of the company’s stock, valued at $19,933,581.79. This trade represents a 0.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William H. Rastetter sold 18,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $151.82, for a total transaction of $2,732,760.00. Following the completion of the sale, the director directly owned 40,360 shares of the company’s stock, valued at approximately $6,127,455.20. This trade represents a 30.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.80% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Stock Down 1.8%

Neurocrine Biosciences stock opened at $144.16 on Friday. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.67. The company has a market capitalization of $14.37 billion, a P/E ratio of 34.49, a PEG ratio of 0.94 and a beta of 0.22. The stock’s 50 day moving average is $142.63 and its 200 day moving average is $132.42.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.59. The firm had revenue of $794.90 million during the quarter, compared to the consensus estimate of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The company’s revenue was up 27.8% on a year-over-year basis. During the same period last year, the company earned $1.81 earnings per share. As a group, equities analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company’s products include INGREZZA for tardive dyskinesia and chorea associated with Huntington’s disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.